Health-care companies fell sharply as traders rotated out of the sector into other defensive areas such as utilities.

Novartis said it agreed to buy biotech company Excellergy for up to $2 billion, adding a new approach to treat allergic diseases to its immunology pipeline.

AstraZeneca said a lung-disease drug candidate met the primary goal in two late-stage clinical trials, reducing the rate at which patients' symptoms worsened.

The Justice Department filed an antitrust lawsuit against the prominent hospital system NewYork-Presbyterian, alleging that it used restrictions in its contracts with insurers to limit price competition and block lower-cost healthcare options.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

03-27-26 1736ET